Wolves' promotion windfall could top £140m - sports finance expert
Wolves’ return to the Premier League will be worth £140 million to the club with the entire Black Country reaping the rewards, according to finance and industry experts.
The club’s promotion will have a financial knock-on effect for everything from bars and shops to restaurants and hotels, giving the region its ‘confidence and swagger back,’ it is claimed.
Dr Rob Wilson, expert in football finance at Sheffield Hallam University, said promotion means an initial £120m financial boost from a mix of television money and sponsorship – which could top £140m if Wolves do well next year.
He said: “When you go up to the Premier League you put yourselves on the global map and then you can get investment from companies from around the world.
“There will be benefits for shops, bars, restaurants and hotels in the Black Country.
"It's great for the region, although the lion's share of the income will go directly to the club.
"With Wolves’ links to China they can also take advantage of more sponsorship or branding deals [from the Far East].”
Wolves secured promotion on Saturday after Fulham's draw with Brentford, before beating Blues 2-0 on Sunday in a party atmosphere at Molineux.
Nuno's side need just one more point to be crowned champions.
Corin Crane, chief executive of the Black Country Chamber of Commerce, said having a global spotlight shone on the region every couple of weeks is a massive boost.
And if Wolves retain their place in the Premier League it could have a huge knock-on impact in the longer term, he added.
Mr Crane told the Express & Star: “This is brilliant news and the general feeling is it is where Wolves deserve to be.
"Promotion will give people a confidence and swagger back across the region.
"Wolverhampton and the Black Country are in a period of quite some change and the global interest from the Premier League will only add to that.
"Over the next few years the impact on tourism will be fantastic, with pubs, bars and hotels all seeing a huge increase.
“The real economic benefits will be over the next five or 10 years – and to see those Wolves need to stay [in the top flight].”